VPR Brands, LP Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 15, 2023 at 03:00 am IST
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VPR Brands, LP reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 3.54 million compared to USD 1.23 million a year ago. Net income was USD 2.95 million compared to net loss of USD 0.054521 million a year ago. Basic earnings per share from continuing operations was USD 0.03. Diluted earnings per share from continuing operations was USD 0.03.
For the nine months, revenue was USD 8.53 million compared to USD 3.21 million a year ago. Net income was USD 3.9 million compared to net loss of USD 0.128029 million a year ago. Basic earnings per share from continuing operations was USD 0.04. Diluted earnings per share from continuing operations was USD 0.04.
VPR Brands, LP is a technology company and an intellectual property (IP) holding company. The Company is engaged in various monetization strategies of its United States patents covering electronic cigarette, vaporizer technologies, and related accessories. It designs, develops, markets, and distributes products oriented towards the cannabis markets, including the ELF and HONEYSTICK brand of vaporizers and DISSIM Lighters. It has several trademarks (ELF, HONEYSTICK, PHANTOM, RIPPER, VPOD, VAPOR X) for licensing activities. The Company is also engaged in product development for the vapor or vaping market, including e-liquids. Electronic cigarettes are electronic devices, which deliver nicotine through atomization, or vaping of e-liquids and without smoke, and other chemicals constituents typically found in traditional tobacco burning cigarette products.